bank-technology

It's hard to get consumers and merchants to change their behaviors. But eventually the convenience and well-crafted incentives of mobile payments will prompt people to give up the plastic habit.

While marketplace lenders like LendingClub and Prosper are at the cutting edge of innovation for now, banks may gain ground eventually. Either way, the competition greatly benefits the expanding pool of borrowers who will have greater access to credit.

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including the pitfalls of using alternative data to score "credit invisibles" and whether Benjamin Lawsky's successor should play nice with big banks.

Apple Pay's security shortcomings were likely deliberate, done with the goal of making signups and initial usage as easy as possible for shoppers. And so far, it's worked.

The Disney-Pixar movie 'Finding Nemo' inspired a run on clownfish in pet stores across America. Banks should pursue the same effect with content that connects with customers on an emotional level and inspires them to take action.